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LequteMan
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Nigerian business tycoon, Aliko Dangote, has voiced concerns over the future of Nigeria's oil fortunes due to incessant attacks by the Boko Haram terrorist group in the country. He says the increasing insurgency is hampering growth in the country. PUNCH reports.
Excerpt:
Africa’s richest man and founder, Dangote Group, Aliko Dangote, has raised the alarm over rising threats to Nigeria’s oil and gas fortunes owing to the rising spate of terrorism in the country.
“Unfortunately, this window of opportunity is currently being threatened by the region’s own increasing instability as a result of the terrorist activity in Nigeria and political instability in other parts of the region such as Sudan.”
To address these challenges, he said Nigeria and the Gulf of Guinea region must increase local processing and consumption.
“This has been a goal of the Nigerian Government for many years,” he said, but added that progress had been impeded by lack of investment in the downstream petroleum sector as well as an outdated policy and regulatory environment for the oil and gas sector.
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#Nigeria #Dangote
Excerpt:
Africa’s richest man and founder, Dangote Group, Aliko Dangote, has raised the alarm over rising threats to Nigeria’s oil and gas fortunes owing to the rising spate of terrorism in the country.
“Unfortunately, this window of opportunity is currently being threatened by the region’s own increasing instability as a result of the terrorist activity in Nigeria and political instability in other parts of the region such as Sudan.”
To address these challenges, he said Nigeria and the Gulf of Guinea region must increase local processing and consumption.
“This has been a goal of the Nigerian Government for many years,” he said, but added that progress had been impeded by lack of investment in the downstream petroleum sector as well as an outdated policy and regulatory environment for the oil and gas sector.
click here to read more
#Nigeria #Dangote